Nestle India Q2FY23 PAT up 8.3% at Rs668.34cr as higher input costs pinch

21 Oct 2022 , 09:11 AM

Nestle India Ltd reported 18.3% growth in total sales revenues for the September 2022 quarter on consolidated basis at Rs4,591cr. Sequential revenues were up 13.74%.

For the September 2022 quarter, domestic sales increased by 18.2% while the export sales were up by 15.7%. The growth in domestic sales was based on healthy balance of pricing and volumes.

The board has declared a second interim dividend of Rs120 per share. Overall sales growth for the quarter was at 18.3%. Ecommerce sales account for 7.2% of totals sales.

The organized trade and the out of home (OOH) channels saw smart growth.

Consolidated net profit for September 2022 quarter grew just 8.26% at Rs668.34cr in the quarter.

The net profit growth was slower than the sales growth since the rise in commodity prices on a yoy basis and the manpower costs more than offset the surge sales over that period. The operating margins were relatively healthy at 20.22% but lower on a yoy basis due to the cost impact.

The abatement of commodity prices was not fully reflected in the September quarter. Net margins for Q3FY22 were at 14.56% compared to 15.90% in the year ago period and 12.77% in the sequentially previous quarter.

Financial highlights for Sep-22 compared yoy and sequentially

	Nestle India
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 4,591.00	₹ 3,882.57	18.25%	₹ 4,036.57	13.74%
Operating Profit (Rs cr)	₹ 928.14	₹ 862.94	7.56%	₹ 729.92	27.16%
Net Profit (Rs cr)	₹ 668.34	₹ 617.37	8.26%	₹ 515.34	29.69%
Diluted EPS (Rs)	₹ 69.32	₹ 64.04		₹ 53.45
OPM	20.22%	22.23%		18.08%
Net Margins	14.56%	15.90%		12.77%